What we've heard from a lot of teams complaining about the coming BCS selections, is how unfair the process is. Mostly by our "friends" in east Lansing, claiming that by a result of their victory over us earlier this season, that by default, they should be ranked ahead of us. While we could spend the better part of this month debating that, most Spartan fans, and other shunned teams are forgetting what the BCS is about. It's about money, and it's about tv exposure. Growing up a redsox fan, my hatred for the Yankees would cause me to watch them, hoping and praying they would lose. That symbol, their pin stripes, yankee stadium, I hated it all. Michigan, to a lot of football fans around the country, presents the same thing. They hate "hail to the victors", they hate our winged helmets, they hate Tom Brady, and they hate the Big House. They will most definitely watch, if only to see us get our ass kicked. The Michigan brand, like the Yankee brand, is a world wide brand.
That's what a lot of fans don't understand, that the business aspect of these selection, after the title game, and conference champions are selected, money is all that matters. Not only do we travel well, the merchandising opportunities with the Michigan brand, are far better than the other options. To quote our esteemed leader, and reigning B1G coach of the year, Brady Hoke "This is Michigan" after all.
Edit: Parts of this have been posted by other OP's, but they play an essential part iin explaining the "Yankee" comparison. This is also not to say, that we aren't worthy of going to the game on record alone, because we absolutely are. A large part of the process, is how you're playing right now, how you finish.